Trade Forex CFDs Online - Forex Trading Platform / Axi (2024)

FAQs

Is axi trading platform legit? ›

Axi is a reliable industry player that has not been involved in any major scandals. Having been on the market for a long time or being listed on an exchange are also signs that the broker is a legit entity. Warning: Be alert to cloned websites impersonating trusted brokers such as Axi.

No, you can't open an account at Axi if you live in the United States! Disclaimer: 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

Why Are CFDs Illegal in the U.S.? Part of the reason why a CFD is illegal in the U.S. is that it is an over-the-counter (OTC) product, which means that it doesn't pass through regulated exchanges. Using leverage also allows for the possibility of larger losses and is a concern for regulators.

CFDs are illegal in the US because they are an over-the-counter (OTC) trading product. OTC trading products aren't listed on regulated exchanges like the New York Stock Exchange (NYSE), bypassing US regulatory bodies. However, US traders have alternatives such as forex, options and stocks.

What is the minimum deposit at Axi? At Axi, the minimum deposit is $0. This means that you can deposit as little money as you wish. After you have completed the registration and verification process, you need to fund your account to start trading.

All withdrawals will be processed within 1-2 business days upon receipt. If you withdraw via Bank Transfer, it may take up to 3 to 5 business days to receive fund. If you withdraw via e-wallet, you will receive fund instantly after Axi processes your request.

To apply for a withdrawal, log in to the Axi Client Portal, select “Funds,” then “Withdraw Funds.” All available withdrawal options will be displayed. Please note: You can only make withdrawals via the same method you used to deposit, and funds must be returned to the original source.

The key difference is that spread betting is considered a form of gambling, so is free from capital gains tax and stamp duty, but CFDs are only free from stamp duty. For experienced, frequent traders in financial markets, contracts for difference (CFDs) are an increasingly popular alternative to spread betting.

Is CFD trading real or fake? ›

It is as real as any form of traditional investing or trading but has some unique aspects that set it apart from other forms of investing or trading. One of the reasons for CFDs' appeal is that a contract for difference (CFD) allows you to trade a currency pair, a stock, an index, or a commodity without owning it.

Are Forex Brokers and Forex trading legal in the U.S.? Yes, forex brokers are legal in the U.S., but they must be registered with and regulated by the Commodity Futures Trading Commission (CFTC) and be members of the National Futures Association (NFA).

The CFTC can fine individuals up to $200,000 per violation for trading CFDs with an offshore broker. You may be denied access to US financial markets. The CFTC can also deny individuals access to US financial markets, including exchanges and clearinghouses, for trading CFDs with an offshore broker.

CFD trading is not permitted in your country of residence: All positions with leverage are traded as CFDs, which are not permitted for some types of asset under some national laws and by the regulators governing some eToro clients' accounts.

US citizens are allowed to trade on offshore brokers as long as these brokers are registered with the CFTC or fall under an exemption category. It's crucial for traders to ensure that the broker they choose is compliant with these regulations to avoid any potential legal issues.

Once in Client Portal, please click Withdraw Funds (at the left hand panel), choose the available withdrawal method for your account and follow the prompts. For the first withdrawal to your bank account, you will have to submit your bank account information and provide the most recent bank statement for verification.

Axi Client Services

Generally, we charge a 7 USD roundtrip ($3.50 per lot) commission fee for every 1 standard lot of trade. It will be prorated for trades with less than 1 lot.

Axi offers free download and installation of the leading MetaTrader 4 (MT4) trading platform across most major devices and operating systems including Windows, Mac, iPhone/iPad and Android, as well as the browser based WebTrader platform.

Can I trust Axi? Axi has a Trust Score of 81, compared to the industry average of 83, and BrokerNotes.co considers Axi to be Trusted.